By Marisa Wong
Los Angeles, Nov. 22 – Rapala VMC Corp. priced €30 million of 12½% hybrid capital securities, according to a press release.
The interest rate will reset to a floating rate on Nov. 29, 2026.
The hybrid bond has no maturity date but is callable on the coupon reset date.
Nordea Bank Abp and OP Corporate Bank plc are the joint lead managers.
The company said its largest shareholder, Viellard Migeon Et Compagnie SA, has participated in the issue by subscribing for €7.2 million of the securities.
Proceeds will be used for general corporate purposes.
Rapala is a fishing tackle company based in Helsinki, Finland.
| Issuer: | Rapala VMC Corp.
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| Amount: | €30 million
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| Issue: | Hybrid capital securities
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| Maturity: | Perpetual
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| Managers: | Nordea Bank Abp and OP Corporate Bank plc
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| Coupon: | 12½% initially, resets to a floating rate on Nov. 29, 2026
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| Call: | Callable on Nov. 29, 2026
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| Announcement date: | Nov. 22
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| Issue date: | Nov. 29
|
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